ONE of the things we consider when "adulting" is having a property of our own. But is it really ideal to own a property or is it better to just rent one?
We talked to an expert to shed light on which is more advantageous and here's Arthur M. Gonzales, president of the Propertier Real Estate, has to say.
Owning a property
The advantage if you own property is it provides you a tangible real investment that appreciates. It also forced savings for starters and gives the potential for an additional revenue stream from cash flow if you lease it. Flipping a property is also good leverage to create wealth in the long term while owning a house provides a sense of accomplishment and fulfillment as well as security for the family.
Renting a property
Meanwhile, renting a property gives flexibility if you are not sure where to settle yet or if your profession/business requires you to travel and settle to different places in a short term.
You also relatively have an option to always live in a "newer" property and avoid the burden of maintenance repairs, tax expense and other costs that come with ownership. Aside from that, renting has the advantage of mobility and choice: you can easily transfer if there are changes in the neighborhood like urban crowding, flooding, and other disturbances that were not there before. When you cannot put up a lump sum for a downpayment yet, the best option is to rent. You can also play the long game, using your money for higher-yielding investments such as starting or expanding your business that produces cash flow that will eventually enable you to buy.
Best properties to own
When owning a property, it is best to assess your financial capacity to determine which terms of payment you can easily afford. It is good to note that Camella Manors offers short-term, long-term and other flexible payment terms that cater to any type of investor conditions considering that most of their projects are ready-to-occupy projects like Northpoint. " We offer a competitive monthly payment of only P10,907. Our payment terms are so flexible that clients get to choose from any major bank in the country. But for buyers paying in spot cash, they can enjoy a 15 percent discount or almost P700,000 for a studio. All these are made possible and easier through our online payment facilities, over-the-counter bank payment and convenient partner merchants," Carlo Refamonte, Marketing Head - Camella Manors Davao, said.
Aside from that, Marlon Escalicas, Operations Head – Camella Manors VisMin, added that since Camella Manors are projects located in key areas and major cities in the country, with the growing demand for housing developments, rental or leasing business is needed in these locations.
"Hence, as an investor, you are more likely to raise your profit by leasing out your unit with the current demand," Escalicas said.
Camella Manors' portfolio of projects is located in key areas and major cities in the country. These communities are strategically encircled with business hubs and leisure centers that increase demand for accommodation and lease.
"In Camella Manors, dedicated leasing officers are in place to handle such work for you. From client acquisition to asset management, ease of transaction will be a breeze. We can provide the overall service as you invest your own unit and commence your own rental business. As a renter, you can be assured that you’ll experience not just a typical condominium atmosphere but a total home with our sub-urban themed condo villages.
We make sure that every community comes with luxury amenities, 24/7 security, a lifestyle center, spacious and green open-spaces and many more things worthy of investment. Plus, if you’re an investor we place a minimum of 10 percent appreciation value for your investment annually," he ended.